Market participants are virtually certain that the Federal Reserve will announce a substantial amount of asset purchases at the conclusion of its November meeting on Wednesday, according to the latest CNBC Fed Survey.
On average, market participants look for the Fed to announce $457 billion in asset purchases, down from the $490 billion estimated in mid-October.
In written commentary, one survey respondent suggested that the Fed has been trying to reduce market expectations for the latest round of asset purchases—known as quantitative easing—which could explain the lower figure. But the median forecast at $500 billion is unchanged from the prior survey.